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Survey estimates 23.85 M tons of Gold ores in India
By agencies
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Monday, 16 May 2005, 19:30 IST
NEW DELHI: The Geological Survey of India (GSI) and the Indian Bureau of Mines have estimated that a total of 23.85 million tons of gold ore exist in the country, a senior minister said.
Minister of State for Coal and Mines Dasari Narayana Rao said gold ore have been found in Rajasthan, Andhra Pradesh and Karnataka during the past three years.
The government would sell around 84,000 carats of diamonds every year, he also said and pointed out that the auction of diamonds was carried out in Mumbai besides Panna because the metropolis offered a better market and attracted bigger merchants which ultimately accrued better price realization and more royalty to Madhya Pradesh.
Moreover the market for rough diamonds was much smaller at Panna (Madhya Pradesh) than in Mumbai, he said.
Rao also said as per the National Mineral Inventory, the total resources of diamond in the country was estimated to be 4580336 carats and that of Conundrum at 32932 tons and Garnet at 51736615 tons.
The resources of Ruby was estimated to be 469 kg (all in Orissa) and that of Sapphire at 450 kg (all in Jammu and Kashmir), he added.